“Nothing From Nothing” is a song recorded by Billy Preston and the lyrics go like this: Nothin’ from nothin’ leaves nothin’ You gotta have somethin’ if you wanna be with me Nothin’ from nothin’ leaves nothin’ You gotta have somethin’ if
I received a lot of questions about Larry Fink’s (CEO of Blackrock) statement on CNBC yesterday when he said, “I think the risk right now is that we have a melt up in the equity market while everyone is under-invested, not a meltdown.” I also got a lot of questions about my statement
The movie “The Big Chill” is a 1983 American comedy-drama film whose plot focuses on a group of baby boomers who attended the University of Michigan, reuniting after 15 years when their friend Alex commits suicide. Kevin Costner was cast as Alex, but all scenes showing his
The call for this week: My work suggests a touch of caution here on a trading basis. My short-term internal energy indicator is out of gas. The intermediate energy indicator is neutral, but the long-term energy indicator remains highly bullish. The SPX is in a position, after a pause,
Yesterday, the 4Q GDP number was revised lower. As our economist Scott Brown Ph.D. writes: As expected, the estimate of fourth quarter GDP growth was revised lower, with slight downward revisions to each of the major components. Inventory growth was a little less rapid than in the pre
“That’s more like it” is what one portfolio manager said to me yesterday. I said, “What do you mean?” He responded, “Well, Wednesday was in keeping with your sense that the market would ‘stall’ the first part of this week and then have a positive ‘energy burst’ late week. Do you still
Yesterday, piqued by my never-ending rant that everybody is looking at the wrong yield curve instead of the real curve of the 3 month T’bill to the 30 year T’bond, I got this email from one of the best portfolio managers I know. Craig Drill (Drill Capital) wrote: “Doesn’t the in
So, my email box lit up again yesterday with the ubiquitous question, “What about the yield curve inversion?” I responded by referencing yesterday’s letter. To wit: Speaking to the yield curve, all the talking heads are looking at the wrong yield curve; they talk about the 2- to 5-yea
